Norrsken, founded by Klarna co-founder Niklas Adalberth, has launched a €57 million fund to support early-stage European startups tackling global challenges. The new vehicle, called Norrsken Evolve, marks a rebrand and expansion of the organization’s Accelerator program, which since 2021 has backed 80 startups.
Each selected company will now receive €250,000 in seed capital, double the previous amount, with the potential for follow-on investment. Beyond funding, founders will take part in in-person sprints offering guidance from seasoned entrepreneurs, investors, and operators.
Its investor base includes Saminvest, the European Investment Fund, and SmartCap Green Fund, which is backed by the EU’s NextGenerationEU initiative. Additional contributions come from tech founders, family offices, and Skaala, the investment firm of Wise co-founder Taavet Hinrikus and Sten Tamkivi.
Founded in Stockholm, Norrsken has raised more than $700 million across several funds since its inception. It operates hubs in Kigali, Barcelona, and Brussels, and will expand further with a new tech hub in Tallinn, Estonia, through Kasvuhoone.
